Pranab to review performance of public sector banks tomorrow
"The Finance Minister will do the annual review of public sector banks` performance in different sectors including flow of agriculture credit, micro, small and medium enterprises (MSMEs) credit, disbursement of housing loans and education loans among others", a Finance Ministry statement said.
The Government had set a target of Rs 4,75,000 crore for agriculture credit for 2011-12 fiscal as against the target of Rs 3,75,000 crore during FY 2010-11.
The agriculture credit outgo in 2010-11 fiscal stood at Rs 4,46,778.98 crore, thus exceeding the target by Rs 71,778.98 crore or 19 per cent.
Moreover, 5.50 crore farm loan accounts were financed during the same period, which is an increase of 14.11 per cent in number of farm accounts and 16.19 per cent in the amount of loans disbursed.
Under the Kisan Credit Card (KCC) Scheme, banks have issued 9.81 crore such cards as on December 31, 2010.
Besides, the total outstanding loans of PSBs for education as on March 31, 2011 stood at Rs 43,074 crore in 22,35,532 accounts.
Issues related to infrastructure lending, implementation of interest subsidy schemes for housing the urban poor and lending to minority communities will also come up for discussion and review during the meeting.
The performance of banks in the field of financial inclusion will also be assessed, along with their financial inclusion plan for 2011-12.
A total of about 72,950 villages were identified by the banks for providing appropriate banking facilities and bringing them in the overall banking network.
Of these, 29,569 villages have been covered in the financial year 2010-11 and remaining 43,381 villages are to be covered during the current financial year.
At present, there are 71 unbanked blocks in the country out of which 70 blocks are in the North Eastern region and 1 block in Jammu and Kashmir.